Dublin PR firm paid €1m dividend to shareholders
BRITAIN’S accounting watchdog is investigating Grant Thornton UK’s audit of cafe chain owner Patisserie’s financial statements for 2015-2017, the latest evidence of increased scrutiny of that country’s leading auditors.
The Financial Reporting Council said yesterday it was also investigating the MURRAY CONSULTANTS – whose public relations clients include the Referendum Commission, Digicel, Ardagh Group and Tesco Ireland – has reported a 22pc rise in operating profits to €1.4m for the year ended December 31, 2017.
Profit before tax was €1.23m, and group turnover increased 6pc – to just over €5.5m in the year.
Managing director Pat Walsh said the business had benefited from investment over previous years in new areas including digital and creative services and a rise in clients’ brand and sponsorship spending.
“Our new business pipeline was strong with notable wins across retail, motor, property and asset management. We anticipate further meaningful growth in 2018 based on a strong performance year to date,” he said.
The company paid a dividend of €989,000 after the 2017 year-end and is debt free, having paid down a €400,000 loan back in 2016. The business employs 32 staff, rising to 37 including “ongoing consultants”, Murray said. Salary costs rose in “mid-single digits” to around €2.6m.
Murray provides strategic communications services to a blue chip client base of national and international clients – including advising on stock market deals, mergers and acquisitions and restructurings.
Its consumer division, Murray Brand, is active in food and retail, tech and finance, lifestyle and beauty and motor and property.
Murray Creative, a digital and creative division is a relatively new part of the business.
Patisserie Valerie auditor Grant Thornton probed
preparation and approval of Patisserie’s financial statements and other financial information by the company’s former Chief Financial Officer Christopher Marsh. Patisserie has been rocked by an accounting scandal in recent weeks.Reuters